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Market Chatter: Japanese PM Pledges Extra JPY 3 Trillion Budget Without Raising Bond Issuance

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The Japanese government will fund its extra budget without increasing bond issuance on a calendar basis, Bloomberg News reported Tuesday, citing Prime Minister Sanae Takaichi.

The move is likely aimed at easing market anxieties over the nation's finances, the report said.

The supplementary budget, totalling just over 3 trillion yen, is largely in line with figures indicated by the finance minister and will be submitted to parliament as early as next week, the newswire said.

Takaichi noted that some bond issuance planned under the previous fiscal year's budget would likely be cancelled after accounting for higher-than-expected tax revenues and other unused spending, allowing the government to keep bond issuance unchanged, the publication said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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